In November 2016, Ashok Leyland obtained approval from the Competition Commission of India (CCI) to buy out the stake of its Japanese partner, Nissan Motor, in three joint ventures the two companies had formed in 2008.
This will result in the joint ventures – Ashok Leyland Nissan Vehicles, Nissan Ashok Leyland Technologies, and Nissan Ashok Leyland Powertrain – becoming wholly owned Ashok Leyland subsidiaries.
Nissan agreed to sell its stake in the companies to Ashok Leyland in September 2016. The deal is valued at ₹2.25 billion (US$33 million).
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Shardul Amarchand Mangaldas & Co represented Ashok Leyland before the CCI. The team was led by partner Shweta Shroff Chopra with support from senior associate Vivek Agarwal.
J Sagar Associates advised Nissan Motor. The team comprised partners Nitin Potdar and Rinku Ambekar and associate Ekta Chandan. Partners Amitabh Kumar, Farhad Sorabjee and Reeti Choudhary advised on the competition law aspects of the deal.
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